US copper scrap export spreads narrowed Wednesday on rising demand from Asia.
Transactional prices increased with the next active Comex contract closing Wednesday at $2.26/lb, up by 7¢/lb from $2.19/lb on April 1.
The Davis Index spread for #1 copper wire and tube (Berry/Candy) narrowed to 19.5¢/lb fas US ports under the next active Comex contract, tighter by 2¢/lb.
The spread for #2 copper (Birch/Cliff) remained at 31.1¢/lb fas US ports, under the next active month on Comex. The spread for Bare Bright (Barley) tightened by 0.6¢/lb to 9.4¢/lb fas under the next active Comex.
The weekly Davis Index for #1 copper wire and tube increased by $2.10/lb from $1.99/lb, while the index for #2 copper rose from $1.845/lb fas on April 1 to $1.90/lb fas US port on Wednesday. The Davis Index for Bare Bright (Barley) increased to $2.17/lb fas US port from $2.11/lb fas on April 1.